Czech PX50 index closed below the 500 level at 497.4 points on Tuesday, losing 1%. The major loser was once again Cesky Telecom, down 1.37% closing at CZK 510.60. The market once again followed developments of major TMT stocks and simply copied trends. We saw a single large buyer in CT accumulating cautiously throughout the day. Only 265,000 shares changed hands in the stock. Komercni banka also lost (1.82%) as people appeared not to have considered the information (from Monday) of at least five banks showing interest as so hot. We believe that CEZ might trade stronger today after privatization news (see below) and, should there be no major downward trend in Europe, we are looking for some minor gains on other titles as well. Volumes reached USD 9.52 mil. yesterday.